Nu Skin 2010 Annual Report - Direct Selling News
Nu Skin 2010 Annual Report - Direct Selling News
Nu Skin 2010 Annual Report - Direct Selling News
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NU SKIN ENTERPRISES, INC.<br />
Notes to Consolidated Financial Statements<br />
Cash proceeds, tax benefits, and intrinsic value related to total stock options exercised during 2008, 2009 and <strong>2010</strong>, were as follows (in<br />
millions):<br />
December 31,<br />
2008 2009 <strong>2010</strong><br />
Cash proceeds from stock options exercised . . . . . . . . . . . . . . . . . . . . . $ 3.8 $ 6.2 $ 21.2<br />
Tax benefit realized for stock options exercised . . . . . . . . . . . . . . . . . . . 1.2 2.9 10.3<br />
Intrinsic value of stock options exercised . . . . . . . . . . . . . . . . . . . . . . . . . . 0.2 8.2 25.4<br />
Nonvested restricted stock awards as of December 31, <strong>2010</strong> and changes during the year ended December 31, <strong>2010</strong> were as follows:<br />
<strong>Nu</strong>mber of Shares<br />
(in thousands)<br />
Weighted-average<br />
Grant Date<br />
Fair Value<br />
Nonvested at December 31, 2009 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 340.3 $ 17.12<br />
Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 338.9 25.98<br />
Vested . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (140.0) 16.65<br />
Forfeited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (8.9) 18.82<br />
Nonvested at December 31, <strong>2010</strong> . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 530.3 22.88<br />
As of December 31, <strong>2010</strong>, there was $8.9 million of unrecognized stock-based compensation expense related to nonvested restricted<br />
stock awards. That cost is expected to be recognized over a weighted-average period of 2.5 years. As of December 31, <strong>2010</strong>, there was $22.4<br />
million of unrecognized stock-based compensation expense related to nonvested stock option awards. That cost is expected to be recognized<br />
over a weighted-average period of 3.9 years.<br />
12. INCOME TAXES<br />
Consolidated income before provision for income taxes consists of the following for the years ended December 31, 2008, 2009 and <strong>2010</strong><br />
(U.S. dollars in thousands):<br />
2008 2009 <strong>2010</strong><br />
U.S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 52,756 $ 71,338 $ 141,069<br />
Foreign . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47,897 69,786 66,544<br />
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 100,653 $ 141,124 $ 207,613<br />
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